Question: I need help solving attached problem. Thank you!!! Huron Company produces a commercial cleaning compound known as Zoom. The direct materials and direct labor standards
I need help solving attached problem. Thank you!!!

Huron Company produces a commercial cleaning compound known as Zoom. The direct materials and direct labor standards for one unit of Zoom are given below: Standard _ Quantyor Standard Plice Standard Hours or Hate Cost Direct materials 6.? pounds 5 2.50 per pound 51615 Direct labor {15 hours $12.50 per hour 5 6.25 s an Durmg the most recent month, the following activity was recorded: a. Thirteen thousand pounds of material were purchased at a cost of $2.4!) per pound. t). The company produced only 1,300 units, using 11,?Dl] pounds ofmaterial. {The rest of the maten'al purchased remained in raw materials inventory.) c. Seven hundred and titty hours of direct labor time were recorded at a total labor cost of $9.000. Required: Compute the materials price and quantity variances for the month. (Indicate the effect of each variance by selecting "F" for favorable, "U" for unfavorable. and \"None\" for no effect {i.e., zero van'ancel. Do not round intermediate calculations.) Direct materials price van'ance Direct materials quantity variance ' l
Step by Step Solution
There are 3 Steps involved in it
Get step-by-step solutions from verified subject matter experts
